| Summary of Goodwill |
The following table details the changes in goodwill (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 1, 2023 |
|
|
October 1, 2022 |
|
|
April 2, 2022 |
|
Balance at beginning of the period |
|
$ |
173,513 |
|
|
$ |
101,114 |
|
|
$ |
101,114 |
|
Acquisitions, net of measurement period adjustments |
|
|
2,831 |
|
|
|
72,399 |
|
|
|
17,208 |
|
Balance at the end of the period |
|
$ |
176,344 |
|
|
$ |
173,513 |
|
|
$ |
118,322 |
|
|
| Summary of Other Intangible Assets |
Other intangible assets consisted of the following as of April 1, 2023 (in thousands, except weighted average remaining useful life):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
Average
Remaining
Useful Life
(in Years) |
|
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
Trade name and trademarks (finite life) |
|
|
10.3 |
|
|
$ |
26,740 |
|
|
$ |
(6,915 |
) |
|
$ |
19,825 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
9,350 |
|
|
|
— |
|
|
|
9,350 |
|
Non-compete agreements |
|
|
5.9 |
|
|
|
8,683 |
|
|
|
(7,482 |
) |
|
|
1,201 |
|
Consumer relationships |
|
|
7.6 |
|
|
|
24,100 |
|
|
|
(14,419 |
) |
|
|
9,681 |
|
Other intangibles |
|
|
5.6 |
|
|
|
6,620 |
|
|
|
(6,427 |
) |
|
|
193 |
|
Total |
|
|
|
|
$ |
75,493 |
|
|
$ |
(35,243 |
) |
|
$ |
40,250 |
|
Other intangible assets consisted of the following as of October 1, 2022 (in thousands, except weighted average remaining useful life):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
Average
Remaining
Useful Life
(in Years) |
|
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
Trade name and trademarks (finite life) |
|
|
11.0 |
|
|
$ |
24,440 |
|
|
$ |
(5,907 |
) |
|
$ |
18,533 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
9,350 |
|
|
|
— |
|
|
|
9,350 |
|
Non-compete agreements |
|
|
6.5 |
|
|
|
8,683 |
|
|
|
(7,379 |
) |
|
|
1,304 |
|
Consumer relationships |
|
|
7.9 |
|
|
|
24,100 |
|
|
|
(13,339 |
) |
|
|
10,761 |
|
Other intangibles |
|
|
6.2 |
|
|
|
6,620 |
|
|
|
(6,380 |
) |
|
|
240 |
|
Total |
|
|
|
|
$ |
73,193 |
|
|
$ |
(33,005 |
) |
|
$ |
40,188 |
|
Other intangible assets consisted of the following as of April 2, 2022 (in thousands, except weighted average remaining useful life):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
Average
Remaining
Useful Life
(in Years) |
|
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
|
Trade name and trademarks (finite life) |
|
|
9.2 |
|
|
$ |
7,940 |
|
|
$ |
(5,350 |
) |
|
$ |
2,590 |
|
Trade name and trademarks (indefinite life) |
|
Indefinite |
|
|
|
17,750 |
|
|
|
— |
|
|
|
17,750 |
|
Non-compete agreements |
|
|
7.0 |
|
|
|
8,683 |
|
|
|
(7,276 |
) |
|
|
1,407 |
|
Consumer relationships |
|
|
6.1 |
|
|
|
19,000 |
|
|
|
(12,513 |
) |
|
|
6,487 |
|
Other intangibles |
|
|
6.7 |
|
|
|
6,620 |
|
|
|
(6,311 |
) |
|
|
309 |
|
Total |
|
|
|
|
$ |
59,993 |
|
|
$ |
(31,450 |
) |
|
$ |
28,543 |
|
|
| Summary of Estimated Future Amortization Expense Related to Finite-Lived Intangible Assets |
The following table summarizes the estimated future amortization expense related to finite-lived intangible assets on our condensed consolidated balance sheet as of April 1, 2023 (in thousands):
|
|
|
|
|
|
|
Amount |
|
Remainder of fiscal 2023 |
|
$ |
2,093 |
|
2024 |
|
|
3,324 |
|
2025 |
|
|
3,155 |
|
2026 |
|
|
2,767 |
|
2027 |
|
|
2,603 |
|
Thereafter |
|
|
16,958 |
|
Total |
|
$ |
30,900 |
|
|